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of trade, as well. yes, an ipad in china gets made and it's value point $50. but it's only about $20 of that that goes to china and the rest goes back to the u.s. we'll get into the dynamics of trade, as well, and how we measure it. we'll also be joined by the ilo director general, as well, guy rider. we'll hear from the head of the world intellectual property organization. so it's a big trade day here from geneva on "worldwide exchange." lots of great things to get into. and by the way, 157 members of the wto, shortly to be 158. kazakhstan today should get the approval, all 157 ambassadors are here. they will get approval later this afternoon. so an ever expanding membership base. >> kazakhstan being just the latest. plenty more from ross straight ahead on the program. in the meantime, we want to check in our how markets are doing. so much attention on italy. in particular, you can see the message broadly speaking this morning is in negative, we're seeing about a four to one outpacing decliners versus vapsers here. the stoxx 600 is down abo about .37%. let's take a look across the t
, not just in china, but also in the asean countries. >> the industry engineer -- the engineering industry is expecting high turnover. experts are optimistic the upward trend will continue next year. they are hoping the global demand will continue to keep the eurozone crisis at bay. >> to the markets. worries about the future of the german economy weighed on markets. we have this a bit from the frankfurt stock exchange. -- this update from the frankfurt stock exchange. >> the dax closed down at the highest level since five years, the day before. some profit-taking. shares have been dragged down by concerns that the german economy might cool down pretty soon. the ifo institute lowered its growth expectations for the german economy. the federal reserve seems to be quite pessimistic. looking at the u.s. economy, the fed thinks that the unemployment rate will stay very high next year. >> let's take a quick look at some market numbers. the dax closed at 7569. the euro stoxx 50 ended the day just a tad down. the dow jones is currently going down over 1/2 of 1%. >> hong fighting broke out in the
the results of that in around about 30 minutes. >>> and china and india secretary growth slowed in november. analysts say china and india's nonmanufacturing team expected to improve thanks to a hiring boost in the mainland as well as strong new orders in india. at the same time, china's new leadership, as we pointed out, has laid out some fresh directives. >> these are some pretty sweeping reforms making china's famously inefficient bureaucracy more efficient. it's an effort to "win the confidence and the support of the people" as public backlash rose against the special treatment of politicians. so a new list of dos and don't's for chinese leaders. on the do side, cut down on giving face. the art of extreme flattery or reverence, which results in some very long meetings and speeches. keep them short and cut down on the lavish feasts. he's also encouraging more travel to rural parts of the country where the real problems are. on the don't's side, stop the empty talk. in china, niceties are often more formal and exaggerated than west. another one is don't stop traffic. if you've ever been to
daily gain in more than thee years ago china gets ready to chart its new economic plan. domestic demand is strong enough to keep the lid on growth. >>> european markets get a lift from the latest european market data showing the private sector has expanded for the first time since april and signaling europe could avoid a recession in q4. >>> and japan's business sentiment sours in the fourth quarter. this reading comes two days before a nationwide vote that suggests it will hand the ldp position a landslide win. >>> we're going to give you all the latest results from the flash december data for the pmi for the eurozone that we're just getting out. the overall, the deposit is a touch stronger for the month of december. the details show the manufacturing weakened slightly and its services strengthened slightly. they are overall still in negative territory. and we're seeing the euro/dollar respond a little bit to the downside. down about 0.01% trying to fight back into flat on the day. 130.75 is the level there. again, the services pmi is at 47.8. compared with the 47 that was expected. it
.s. in general is looking positive. and the u.s. is creating a lot more jobs. china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but they seem to be inwardly focused now by being a triangle of china, india, indonesia. we're not seeing a great benefit into europe as we did before. for instance, germany is looking pretty pessimistic. based on its lack of export performance to places like china. >> yeah. when the bundes bank came out and shortly downgraded forecasts, how is the employment picture? if you've got a relatively healthy china and the u.s. consumer bounce back, wouldn't that help germany? >> it certainly would. germany is relatively flat in terms of the e
. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always political risk. in italy, you do have elections coming up. there's a chance getting a higher share than people anticipate. but even then, the financial forces are going to force any government that comes into power to more or less stick to the plan morsi set out. on the other hand, there's always spain, the worries that with 25% unemployment, that you would see the default rate particularly on residential mortgages shoot up, it's 3% now, which is pretty amazing given the struggles within the economy, but we think it will go up somewhat, but really not any more than people have already priced in. >> and then ten year yields, 5.24%. at the moment, relatively speaking, pretty comfortable. >> maybe a little bit too comfortable and we certainly don't want to get complace complacent.yields are where they were say in march of this year and then subsequently they shot
quite good. it indicates that the economy in china is expanding again. that means that german companies can hope for new orders from china again, and the markets here can hope for new chinese money to be invested soon into german assets. >> let's take a quick look at some market numbers. the dax ended the day almost 1/2 of 1% up. the euro stoxx 50 closed up at 2582. the dow jones is currently going down about 1/4 of 1%. the euro is trading $1.3660. we turn our attention to syria, where the human cost of the civil war is not limited to loss and destruction inside the country. some half a million summer -- syrians are refugees in neighboring countries. >> for those studying abroad in europe, the anxiety about the safety of their loved ones can beat all consuming -- can be all-consuming. >> this man is torn between remaining where he is and returning to war-ravaged syria. he has been studying medicine in germany for five years and is now doing his residency. he is having trouble concentrating on his professional career. his family can no longer support him financially. that means he spends
in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about 1%. blame politicians in the u.s. and blame heavyweight samsung. this accounts for some 20% of market value on the kospi index. down 4%. that hurt the broader markets. this is, of course, because eu regulators are poised to excuse samsung of breaking competition rules and filing competition patent lawsuits against samsung. greater chinese markets, shanghai more isolated from global happenings and fiscal cliff
china, southeast asia or from as far as the u.s., norway, etcetera in buying korean won bonds and most likely these are from the sector due to their diversification needs and attracted by the korean bond markets. and if you look at the yields, although it has already come lower quite a lot, but if you compared that with treasury yields, that is very attractive. >> we'll leave it there. thank you very much. >>> now if you're just joining us here on "worldwide exchange," these are your headlines. a union at last. the eu finance ministers hand the ecb the power to supervisor more than 150 banks following another late nightmare thon session in brussels. the euro bounces on the news, but stocks in europe trade lower as ben bernanke warns monetary policy may not be enough to offset the damage if the u.s. goes over the fiscal cliff. >>> and the u.s. takes another surprising step tying interest rates to the u.s. unemployment rate. >>> plus, investors chairing danone plan to save $2 million over the next two years as they try to offset a slump in southern europe. >>> straight ahead on the progr
of nokia. it announced an exclusive deal with china mobile, the world's largest mobile-phone services provider. they have more than 700 million subscribers. >> let's take a quick look at some market numbers. the dax ended the day at about -- up about 1/4 of 1%. euro stoxx 50 closed just a a tad up. -- just a tad up. the dow jones is at 13,076. the euro is trading at 1.3079. >> un generate -- un secretary general ban ki-moon is calling on nations to come to an agreement about how to stop global warming. he made those comments at the climate talks in qatar. and he is trying to break a deadlock between the countries who are attending. >> our reporter has been talking to some delegates. >> at a climate summit press conference in doha, indian -- this indian spiritual leader described the effects of climate change in the himalayas. he says melting glaciers and a loss of bio-diversity are signs that the world cannot ignore, signs that drove him to do more to help the environment. >> giving the blessings to the people and healing that is not enough. i have to do more. the whole world is suffe
getting here often means a dangerous odyssey that takes years to complete. they flee through china, laos, and thailand. all the time, easy prey for traffickers who force girls into marriage or prostitution. those who make it to the south are brought to this resettlement center. they prepare for their new lives. they learn what health insurance is or how to operate simple electronic devices. they are shown south korean films to smooth their cultural integration. they teach defectors the basics of living in a 21st century capitalist society. >> for example, a hamburger. they do not have hamburgers in north korea. we show them what they look like, how they taste, and what they cost here in the south. >> back in his high school, the school principal is urging students to think big. he tells them, "although you are from the north, you can become president or a pop star. you have to live your dreams." >> i have a very simple dream. i just want to sit down with my full family around a table and eat dinner. my grandparents are still in the north. to be with them is my greatest wish. >> they are
expensive to do business in countries like china. our workers have become even more productive. our energy costs are starting to go down here in the united states. and we still have the largest market. so when you factor in everything, it makes sense to invest here, in america. and that's one of the reasons why american manufacturing is growing at the fastest pace since the 1990s. and thanks in part to that boost in manufacturing, four years after the worst economic crisis of our lifetimes, our economy is growing again. our businesses have created more than 5.5 million new jobs over the past 33 months. so we're making progress. [applause] we're moving in the right direction. we're going forward. so what we need to do is simple. we need to keep going. we need to keep going forward. we should do everything we can to keep creating good middle- class jobs that help folks rebuild security for their families. [applause] and we should do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we shouldn't do -- i just got to say this -- wh
Search Results 0 to 15 of about 16 (some duplicates have been removed)